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Automotive News Headlines - Yahoo! News

Automotive News Headlines - Yahoo! News
  • No impact on used VW diesel car prices in Europe from scandal: survey

    A Volkswagen logo stands next to a CCTV security camera in WolfsburgThe emissions-cheating scandal shaking Volkswagen has not affected the price of used VW diesel cars in Europe, a car valuation firm said on Friday, while warning that could change later in the year. EurotaxGlass's AG told Reuters it had surveyed used car prices in 30 European countries and found that Volkswagen, Europe's largest carmaker which admitted in September it could have emissions-cheating software in up to 11 million vehicles, was not trailing the market significantly in any one.

  • Germany's Schaeffler rises in market debut

    Ball bearings are pictured at the booth of German company Schaeffler during preparations at the Hanover industrial fair in HanoverBy Arno Schuetze FRANKFURT (Reuters) - Shares in car parts maker Schaeffler rose 8 percent in their market debut on Friday as investors bet on a recovery of automotive stocks in the wake of carmaker Volkswagen's emissions scandal. The rise is a positive sign for the Schaeffler family, one of Germany's wealthiest, after it had to push back and scale down the initial public offering (IPO) amid volatile markets and the scandal at VW, which accounts for more than 10 percent of group sales. The flotation follows the listings of plastic maker Covestro and classifieds group Scout24 , which both suffered from the wobbly stock markets.

  • German Economy Minister says Volkswagen needs to be pro-active
    Volkswagen needs to be pro-active in investigating the emissions data rigging scandal, Germany's Economy Minister Sigmar Gabriel said on Thursday. Almost three weeks after it admitted publicly to rigging U.S. emissions tests, Europe's largest carmaker is under huge pressure to identify those responsible, fix affected vehicles and clarify exactly how and where the cheating happened. "There should not be a debate about the automotive industry or about diesel technology," Gabriel said after attending a meeting of Volkswagen's world workers council in Wolfsburg.

  • UAW threatens strike at Fiat Chrysler U.S. operations

    A new Fiat Chrysler Automobiles sign is pictured after being unveiled at Chrysler Group World Headquarters in Auburn Hills, MichiganUnited Auto Workers members are planning to strike at Fiat Chrysler Automobiles NV U.S. manufacturing plants as soon as Wednesday evening, threatening to bring manufacturing to a halt. A strike at its U.S. operations could cost the automaker $40 million a week in operating profit, said Sean McAlinden, chief economist with the Center for Automotive Research. Workers at several plants in Kokomo and at least one in Michigan received notices to be ready to strike but it was not clear whether all Fiat Chrysler plants would be involved.

  • Fiat Chrysler could lose $40 million weekly profit from strike: analyst

    Fiat Chrysler Automobiles (FCA) CEO Sergio Marchionne attends a news conference announcing a tentative agreement with the United Auto Workers union (UAW) in Detroit, MichiganFiat Chrysler Automobiles NV stands to lose $40 million of operating profit a week from a strike of its plants by the U.S. labor union United Auto Workers, said an analyst with the Center for Automotive Research. Sean McAlinden, chief economist at the Ann Arbor, Michigan-based automobile industry consultancy, said the figure is based on the estimated per-vehicle profit of Fiat Chrysler autos sold in the U.S. market. Labor costs have fallen to about 4 percent of the total price of a vehicle at Fiat Chrysler, down from 15 percent at Detroit automakers in the late 1990s, McAlinden said.

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